How to Conduct a Productive Year-end Technology Review
A technology review’s main emphasis should not be on the technology and its technical operation but its user experience and application. A year-end tech review can be prepared from the standpoint of first-hand experience, i.e., how you utilised it, what went well, and what went wrong.
Business owners globally saw about a 13.6% increase in their IT expenses in 2021 while simultaneously believing that the level of service is not keeping up. Technology has grown so prevalent that it has become a business on its own. Businesses that ignore technological investments do so at their risk.
You should consider undertaking an end-of-year analysis of your present company technology performance and your impending technology demands as you plan for the new year. This makes it easier to develop your future technological road plan.
How Exactly Should Companies Conduct a Year-End Review of Their Technology Performance?
Some business owners, teams, and corporate executives feel that technology does not serve their objectives. That ought not to be the case.
Ask the Right Questions
Begin by asking questions such as:
- Is your primary goal to increase revenue? Is it to save money? Is it to strengthen consumer relationships? Is it to simplify operations?
- Why are we spending on technology, and what are the expected business outcomes?
- Is IT management and the IT staff clear about their mission?
The effort required to answer critical questions like these helps guarantee that the board of directors, business owners, or CEOs clearly grasp the role of technology. This process helps your firm see how your IT investments and business goals are linked. As you begin to grasp how your technology expenditures should affect your business goals, prioritise and clearly explain to them so that you can subsequently measure the direct link between IT and productivity with the assistance of your technology providers.
The Customer’s Perspective
Customers are the company’s business process owners. As these business process owners work toward their goals, a company must ensure they are open to prioritising initiatives correctly. It must thoroughly comprehend the services it provides to its clients (business process owners) and determines which services offer the most significant business value.
When there isn’t a significant interaction between the technology team and other staff, it’s time to establish partnerships and explicitly define duties. It’s important to obtain precise information from these stakeholders or business process owners. You would need to consider questions like; Where does technology come into play? Where are the major impediments to accomplishing corporate objectives and key priorities?
The first step involves developing and looking at the big picture and why you are investing in technology. Step two involves painting the backdrop of the big picture established in step one. You know where you’re succeeding and where you can make more investments.
The third phase delves deeper into how effectively your organisation’s IT is geared to satisfy your customers’ expectations. One method of assessing this is to examine necessary procedures that are essential to all IT firms. Different fundamental processes should be examined and prioritised – your technology adviser may assist you with this. For example, you may discover that IT governance is not adequately established or a lack of alignment between IT and your business objectives.
Considerations for a Year-end Technology Review
Routine re-evaluations are an essential aspect of maintaining your information technology. On a yearly basis, consider the following:
Strategy for New Technologies
Your present technology should be working for you if you have a competent IT team, but things change. Every year, you should do a strategic review of new technologies to evaluate if they should be integrated into your work environment or whether you should take steps to mitigate the risks they provide. Furthermore, you should identify current hardware and software nearing the end of their life cycle so that you may plan upgrade or replacement options.
Logs and Settings for Security
It is vital to examine and revise settings, such as firewall rules, on an annual basis to ensure that they represent current dangers. In addition, a yearly security assessment should be performed, maybe involving penetration testing to identify weaknesses. While security logs should ideally be checked on a continuous basis, do so at least once a year.
There are generally many regulations governing how systems are authorised, which technologies are appropriate, and how personnel are permitted to utilise them. Annual assessments ensure that they match current technology deployments and business demands.
Get Help with a Productive IT Review
Depending on the size and diversity of your firm, these steps may be sufficient to build a clear plan for the upcoming year. More complex enterprises will require more time to delve deeper into the firm’s inner workings.
In either scenario, the outcome should clearly describe the technology mandate, the voice of the business process owner, and the top three to six areas of improvement for the coming year. Just implement the plan and assess the results throughout the year to keep on track, as you would with any strategy.
For more assistance with your year-end technology review, feel free to contact us.